Morning fellow Appen shareholders,I just looked at the APX...

Morning fellow Appen shareholders,

I just looked at the APX operating performance and share price performance. APX SP peaked in Aug 2020 with a Market Cap of A$4.2bn and since then the shorters started their business and the share price plummeted to under 30c in ! This was insane as the MC dropped to A$68m ( Value loss of > A$4.1bn).

From the beginning of 2024 shorters have exited and I think realising that the bottom in. Q1 FY24 result is such an important indicator for the SP and recent price performance is any indicator, investors are expecting a recovery.

Regardless, APX is way oversold due to short activity - if APX can improve revenue over $300m and make some positive EBITDA, I expect the SP to be in $5 territory.

		FY23	FY22	FY21	FY20	FY19
1		AU$ M	AU$ M	AU$ M	AU$ M	AU$ M
2	Revenue	273	388	447	600	536
3	EBITDA	-20	13.6	77	108	101
4
5	SOI	219	123	123	122	121
6	Share Price (when Results issued)	0.48	2	6	15	20
7	Market Cap	105.12	246	738	1830	2420

SP got smashed by short selling aided by poor performance! I think reading the FY24 outlook and the unsolicited offer 70c indicates that recovery is on the cards for Appen.